Exam (elaborations)
Arizona Health/Life Insurance Exam|104 Answered Questions
Arizona Health/Life Insurance Exam|104 Answered Questions
[Show more]
Content preview
Arizona Health/Life Insurance Exam|104Answered Questions
Which element of a contract constitutes a definite and unqualified proposal
by one party to another? - -Offer
-Skilled nursing facility expenses are sometimes covered by ___________, but
ONLY if the insured was hospitalized prior to entering the facility. - -Medicare
-Disability income policies provide protection for which of the following? - -
Economic Death
-Christine is receiving benefits provided from her disability income
insurance. As compared to her previous earnings, the disability benefits
should be - -Somewhat less
-What is normally the consequence for NOT obtaining preadmission
certification prior to receiving inpatient medical care? - -A reduction in
benefits
-Under the law of agency, the principal is considered to be - -The insurer
-Which of these is not considered the responsibility of a producer during the
underwriting process? - -Selecting the final approval date
-Which of the following statements is TRUE if the owner of an IRA names
their spouse as beneficiary, but then dies before any distributions are made?
- -The account can be rolled into the surviving spouse's IRA
-What is the maximum number of employees (earning at least $5,000) that
an employer can have in order to start a SIMPLE retirement plan? - -100
-A signed good health statement may be requested by a life producer at the
time of ____________ - -Policy delivery
-A retirement plan that sets aside part of the company's net income for
distributions to qualified employees is called a - -profit-sharing plan
-Which factor determines the maximum disability income benefit that can
be purchased by an applicant? - -The applicants income
-Which of these is not a factor that influences group health insurance
underwriting? - -Physical exams of group members
, -An advantage of owning a flexible premium life insurance policy would be -
-The policyowner can make policy changes without difficulty
-Darrel has a group long-term disability income policy paid by his employer.
Which of these statements is true? - -The specified benefit amount is a
percentage of the covered employee's wages.
-Free-for-service is a method of administering health insurance benefit
payments in which - -the cost of each service is scheduled
-A policy owner is permitted to take out a policy loan in a while life policy at
what point? - -when the policy has a cash value
-Which of the following actions would be considered a felony in the state of
Arizona? - -Attempting to defraud an insurer
-A reciprocal typically has an administrator who manages the premiums
collected from the groups members. This administrator is called a(n) - -
attorney-in-fact.
-Reductions in coverage are one feature of _________ in Health insurance
policies. - -Cost containment
-The law of large numbers enables an insurer to - -predict losses
-Enrollees in a staff model HMO have which of the following pharmacy
options available? - -In-house pharmacy
-Which statement is true regarding hospital preadmission certification for
emergency situations? - -Notification is required to be given after insured is
admitted to the hospital.
-A(n) ___________ insurer assumes risk from another insurance company. - -
Reinsurance
-Which of the following is excluded in a medical expense plan? - -Military
Duty
-Interest is credited to a fixed annuity no lower than the - -contract
guaranteed rate
-Larry wants to purchase an individual disability income policy to provide
continuous income while disabled. He is also covered by a two-month wage
continuation benefit from his employer. What should the policy elimination
period be for his individual policy? - -60 days
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.19. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now